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Tuesday, 27.05.2025, 21:33
Lido invests EUR 3 mln in two restaurants, food production base in Berlin
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Both Kirsons restaurants are due to open in Berlin this Wednesday, May 18.
The company's representatives informed that before opening its restaurants in Berlin, Lido researched the German market and came to the conclusion that there was a shortage of such restaurants in Germany. The Latvian company chose Germany as a launch pad for its expansion to Western Europe because historically food cultures in Latvia and Germany are rather similar.
Lido took a loan from DNB Banka to develop its two restaurants and food production base in Berlin.
In 2014, Lido reported a loss of EUR 889,000 on a turnover of EUR 33.158 million.
Lido specializes in catering, food processing and production and distribution of semi-finished products for the food industry. Latvian businessman Gunars Kirsons is the sole owner of the company.
Lido has ten restaurants, several production facilities and retail stores in Riga as well as three restaurants in Tallinn.
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